TERMS AND CONDITIONS OF RENTAL CONTRACT
This is a Lease Agreement between the Customer (Lessee) and ZTV Broadcast Services Inc. (Lessor and hereafter known as “ZTV”) to rent equipment and/or purchase services that are subject to all conditions and terms noted below. The Customer acknowledges that he/she has read and understands these conditions.
- Rental: The Lessee agrees to pay the rental rates and charges stipulated from the time of receiving noted equipment until the time of returning aforementioned equipment to ZTV.
- Payment: All rental charges are due and payable on the date of invoice. If credit privilege has been granted to Customer, terms of payment shall be net 30 days from date of invoice. Interest will be charged at a rate of 2% per month (24% per annum) not compounded on all sums overdue pursuant to this Agreement.
- Location and Use: The equipment shall be used and located at any place of business of the Lessee and shall not be relocated without prior written authorization from ZTV. The Lessee shall ensure that the equipment will be well maintained and operated by competent employees.
- Loss or Damage: The Customer shall be solely responsible for any loss or damage to equipment during the period of the rental contract. The Customer shall notify ZTV immediately of any loss or damage to equipment with full details and ZTV reserves the right to assess any costs for replacement or repair of said equipment.
- Warranties: The Customer acknowledges that ZTV is not the manufacturer of the rented property and ZTV makes no warranties or conditions either written or implied, with regard to the rented property listed under this Agreement including, but not limited to, all implied warranties and conditions or merchantable quality and fitness for a particular purpose and those arising by statute or otherwise in law of from a course of dealing or usage of trade.
- Ownership: Title and ownership of equipment shall remain at all times in the name of the Lessor. The Lessee retains no property rights except the right to use the equipment in accordance with this Agreement.
- Liability: The Customer shall indemnify and hold harmless, ZTV, from any and all claim, costs, expenses or liabilities that may arise from, be connected with, or resulting from the equipment, including, without limitation, the manufacturer, selection, delivery, installation, possession, use, operation or return of the equipment or otherwise on account of any personal injury or death or damage to property occasioned by the said equipment during the time of the rental Agreement.
- Equipment Condition and Alterations: The Lessee acknowledges the receipt of equipment in good operation condition and agrees to return said equipment in the same condition at the same place and date as specified on the by the rental Agreement. No modifications, alterations or any other attachments are to be made to said equipment without express, prior written approval by ZTV.
- Sublease or Assignment: In no case shall the Customer have the right to sublease or assign the equipment in this Agreement to any party other than to whom it was consigned without prior written consent from ZTV.
- Termination of Agreement: Termination of this Agreement shall commence should the Lessee fail to make due payment or if proceeding in bankruptcy, receivership or insolvency be instituted against said Customer of his/her property or should Customer show any act of abandonment on equipment or if Customer should overload equipment beyond its capacity, or fail to maintain and operate said equipment or return equipment as outlined in this Agreement, or violate or be in default of any provision herein, or shall be placed in peril, ZTV reserves the right to cancel and terminate this Agreement at its sole discretion.
- Time is of the essence of this Agreement.
- This Agreement may not be altered or amended in any way unless in writing executed by both the Customer and ZTV.
- A signature from the Customer of his/her authorized agent shall constitute understanding and agreement to all covenants and conditions outlined in this agreement.
- Any schedules attached to this Agreement shall form part of the Agreement.
- Any notices required to be given with regards to this Agreement shall be given in writing to the address of each party shown in this Agreement.This Agreement shall be governed by and construed in accordance with the laws of the Province of Ontario.